Swiss National Bank Portfolio holdings
The Swiss National Bank (SNB), founded in 1907 and headquartered in Zurich with an office in Bern, is Switzerland’s central bank, responsible for conducting monetary policy, issuing the Swiss franc, and ensuring price stability, while uniquely managing a massive investment portfolio. Unlike most central banks, the SNB is a joint-stock company with shares traded on the SIX Swiss Exchange, owned roughly 55% by public entities like cantons and 45% by private investors, yet it operates independently under federal oversight. It holds over $800 billion in foreign currency reserves as of late 2024—invested in global equities, bonds, and gold—to manage the franc’s value, famously intervening in markets to prevent excessive appreciation, as seen with the 2015 abandonment of the euro peg. Led by Chairman Thomas Jordan until his planned exit in September 2024, the SNB balances its dual role as a monetary authority and a significant global investor, influencing both Swiss and international financial stability.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$506M |
| 2 |
Microsoft
MSFT
|
+$355M |
| 3 |
ExxonMobil
XOM
|
+$267M |
| 4 |
Amazon
AMZN
|
+$257M |
| 5 |
Meta Platforms (Facebook)
META
|
+$245M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Canadian National Railway
CNI
|
+$86.2M |
| 2 |
Suncor Energy
SU
|
+$80.1M |
| 3 |
SE
Spectra Energy Corp Wi
SE
|
+$79.6M |
| 4 |
STJ
St Jude Medical
STJ
|
+$63.5M |
| 5 |
TC Energy
TRP
|
+$59.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 16.61% |
| 2 | Healthcare | 15% |
| 3 | Consumer Discretionary | 10.63% |
| 4 | Communication Services | 10.48% |
| 5 | Industrials | 10.28% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
Manulife Financial
MFC
$73.5B
| $142M | 0.18% |
7,990,700
-3,017,100
| -27% | -$55.6M |
|
127
Hewlett Packard
HPE
$70.5B
| $140M | 0.17% |
10,156,607
+2,144,158
| +27% | +$28.8M |
|
128
Johnson Controls International
JCI
$92.2B
| $140M | 0.17% |
3,319,121
+717,700
| +28% | +$30.3M |
|
129
eBay
EBAY
$49.8B
| $138M | 0.17% |
4,123,891
+767,600
| +23% | +$25M |
|
130
Emerson Electric
EMR
$88.3B
| $136M | 0.17% |
2,277,573
+485,200
| +27% | +$29M |
|
131
Boston Scientific
BSX
$71.5B
| $135M | 0.17% |
5,428,130
+1,070,700
| +25% | +$26M |
|
|
MRSH
132
Marsh
MRSH
$91.5B
| $135M | 0.17% |
1,826,963
+381,400
| +26% | +$27.3M |
|
|
FISV
133
Fiserv Inc
FISV
$27.9B
| $135M | 0.17% |
2,337,944
+334,200
| +17% | +$18.8M |
|
|
PX
134
DELISTED
Praxair Inc
PX
| $133M | 0.17% |
1,120,967
+223,300
| +25% | +$26.3M |
|
135
Phillips 66
PSX
$81.4B
| $132M | 0.16% |
1,661,114
+350,100
| +27% | +$28.2M |
|
136
AutoZone
AZO
$51.1B
| $131M | 0.16% |
180,791
+22,200
| +14% | +$16.4M |
|
137
Constellation Brands
STZ
$23.2B
| $129M | 0.16% |
793,516
+146,500
| +23% | +$22.8M |
|
138
Xcel Energy
XEL
$48.8B
| $128M | 0.16% |
2,887,583
+429,100
| +17% | +$18.2M |
|
139
Allstate
ALL
$67.5B
| $128M | 0.16% |
1,572,773
+277,800
| +21% | +$21.9M |
|
140
Cognizant
CTSH
$26B
| $128M | 0.16% |
2,149,730
+468,100
| +28% | +$26.9M |
|
141
Tesla
TSLA
$1.3T
| $127M | 0.16% |
6,841,275
+1,464,000
| +27% | +$24.8M |
|
142
Paychex
PAYX
$42.7B
| $126M | 0.16% |
2,144,603
+291,000
| +16% | +$17.7M |
|
143
Humana
HUM
$46.2B
| $125M | 0.16% |
605,026
+118,400
| +24% | +$24.5M |
|
144
Clorox
CLX
$12.7B
| $123M | 0.15% |
915,092
+110,700
| +14% | +$14.3M |
|
145
Target
TGT
$68B
| $123M | 0.15% |
2,230,611
+363,800
| +19% | +$22.6M |
|
146
Ecolab
ECL
$79.9B
| $123M | 0.15% |
980,742
+201,700
| +26% | +$24.7M |
|
|
APC
147
DELISTED
Anadarko Petroleum
APC
| $123M | 0.15% |
1,980,405
+438,400
| +28% | +$29.2M |
|
148
Travelers Companies
TRV
$80.2B
| $121M | 0.15% |
1,006,516
+203,200
| +25% | +$24.4M |
|
|
TFCFA
149
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $121M | 0.15% |
3,744,599
+759,000
| +25% | +$23.2M |
|
150
McKesson
MCK
$101B
| $119M | 0.15% |
800,991
+174,900
| +28% | +$25.6M |
|
Similar funds
Swiss National Bank's Q1 2017 Portfolio in Review
As of Q1 2017, Swiss National Bank held 2,570 positions worth $80.4B, up 27% from $63.4B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Swiss National Bank deployed $13.1B of net new capital in Q1 2017, opening 6 new positions and adding to 1,330 existing holdings. Its largest new stake was Qiagen: 988,583 shares worth $30.5M.
By sector, the portfolio is most concentrated in Technology at 17% of assets, up from 16% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Canadian National Railway, an estimated $86.2M trimmed.
- Swiss National Bank's largest Q1 2017 buy was Qiagen: 988,583 shares worth $30.5M.
- Swiss National Bank added most to Apple in Q1 2017, an estimated $506M increase.
- Swiss National Bank's biggest Q1 2017 reduction was Canadian National Railway, cutting an estimated $86.2M.
- Swiss National Bank fully exited Spectra Energy Corp Wi in Q1 2017, selling an estimated $79.6M.
- Swiss National Bank's ten largest holdings make up 17% of its $80.4B portfolio in Q1 2017.
- Swiss National Bank opened 6 new positions and closed 36 in Q1 2017.
- Swiss National Bank's portfolio value rose 27% quarter-over-quarter to $80.4B.
Based on Swiss National Bank's 13F filing for Q1 2017, filed 4 May 2017.